US STOCKS-Futures up as weak GDP raises hope of slower rate hikes
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* Futures up: Dow 120 pts, S&P 13 pts, Nasdaq 21 pts (Adds details, comment, updates prices)
By Abhiram Nandakumar
Jan 29 (Reuters) - Wall Street was set to open higher on Friday after weak GDP data raised expectations that the U.S. Federal Reserve would go slow on future interest rate hikes.
U.S. gross domestic product rose 0.7 percent in the fourth quarter, below the 0.8 percent expected, as a strong dollar and tepid global demand hurt exports.
Intervention by central banks has become key to supporting turbulent markets roiled by slowing global economic growth. The Bank of Japan cut a key interest rate below zero on Friday to spur its flagging economy.
Although the Fed has not ruled out another rate hike in March, the current turmoil could force it to wait until June. Continuación...